127th MAINE LEGISLATURE
LD 1454 LR 2100(13)
Resolve, Reauthorizing the Balance of the 2009 Bond Issue for Land Conservation Projects
Fiscal Note for Bill as Engrossed with:
H "A" (H-505)
H "B" (H-508) to H "A" (H-505)
Committee: Not Referred
             
Fiscal Note
Current biennium cost increase - General Fund
Bond Issues Term (years) Principal Rate (%) Interest Total Cost
General Fund - Non-Taxable 10 $6,000,000 4.0% $1,320,000 $7,320,000
General Fund - Taxable 10 $470,000 4.5% $116,325 $586,325
Fiscal Detail and Notes
$6,470,000 of a previously authorized bond remains unissued and the original 5-year authorization has expired. This resolve will extend the authorization for an additional 5-year period, allowing issuance without going back to the voters for a second time. There are no additional costs other than the normal debt service costs anticipated at the time of the original authorization.